Federal Home Loan Bank of Chicago 8-K

What Happened

• The Federal Home Loan Bank of Chicago filed a Form 8-K on January 22, 2026 reporting the creation of a direct financial obligation: a consolidated obligation bond for which the Bank is the primary obligor. The trade date was January 20, 2026 and the settlement date was January 28, 2026.
• The bond has a $10,000,000 par amount, a fixed coupon of 4.75%, next interest payment on July 28, 2026, and a maturity date of January 28, 2041. It is callable on a Bermudan schedule with the next call date listed as January 28, 2031.

Key Details

• Issuer/event: Federal Home Loan Bank of Chicago — consolidated obligation (bond).
• Par amount: $10,000,000; Coupon: 4.75% (fixed constant).
• Trade/settlement/maturity dates: Trade 1/20/2026; Settlement 1/28/2026; Maturity 1/28/2041.
• Call features: Optional Principal Redemption (Bermudan call); next call date 1/28/2031.
• Note: Consolidated obligations are joint and several obligations of the eleven Federal Home Loan Banks, are not guaranteed by the U.S. government, and are backed only by the banks’ financial resources.

Why It Matters

• This filing documents a debt issuance used to fund the Bank’s activities; the terms (coupon, maturity, callability) affect the Bank’s interest expense and funding profile.
• Investors should note consolidated obligations are jointly backed by the Federal Home Loan Banks—not by the U.S. government—and the FHFA can require one Bank to repay obligations for which another is primary obligor.
• The 8-K’s Schedule A lists this specific issuance but does not substitute for the Bank’s periodic reports showing total consolidated obligations outstanding or the accounting amounts (which may differ from par).